This course explores the role of the forecast in a revenue management strategy and the positive impact that forecasting can have.
Successful revenue management strategies hinge on the ability to forecast demand and to control room availability and length of stay. This course explores the role of the forecast in a revenue management strategy and the positive impact that forecasting can also have on staff scheduling and purchasing.
During this course you’ll get a step-by-step approach to creating an accurate forecast as you learn how to build booking curves, account for “pick-up”, segment demand by market, group, and channel, and calculate error and account for its impact.
The course Introduction to Hotel Revenue Management should be completed prior to starting this course.
What will this course cover?
Forecasting in Hotel Revenue Management course will include:-
- How to explain the role of forecasting in hotel revenue management
- Ways to create a forecast and measure its accuracy
- Establish or recommend room rates that maximize profitability
- Apply length-of-stay controls to your hotel
Who should complete this Course?
- Hospitality professionals responsible for improving the financial performance of their organizations
- Front desk managers, night auditors, and sales and marketing analysts who want to take on more responsibility for improving profitability in their property
- Those who aspire to hospitality management positions and need a strong foundation of revenue concepts